Suaad Sait - Sep 1, 2021 Form 4 Insider Report for SharpSpring, Inc. (SHSP)

Role
President
Signature
/s/ Suaad Sait
Stock symbol
SHSP
Transactions as of
Sep 1, 2021
Transactions value $
$0
Form type
4
Date filed
9/3/2021, 03:55 PM
Previous filing
May 11, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SHSP Common Stock Disposed to Issuer 0 0 Sep 1, 2021 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SHSP Stock Option (Right to Buy) Disposed to Issuer -125K -100% 0 Sep 1, 2021 Common Stock 125K $16.50 Direct F2
transaction SHSP Restricted Stock Units Disposed to Issuer $0 -125K -100% $0.00* 0 Sep 1, 2021 Common Stock 125K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Suaad Sait is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Pursuant to the Agreement and Plan of Merger (the "Merger Agreement") dated June 21, 2021, by and among the registrant, Constant Contact, Inc. ("Parent"), a Delaware corporation, and Groove Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Parent ("MergerSub"), as of the effective time of the merger of Merger Sub with and into the registrant (the "Merger"), these shares of the registrant's common stock were canceled and converted to the right to receive $17.10 in cash per share (the "Per Share Merger Consideration").
F2 Pursuant to the Merger Agreement, each vested stock option was canceled, and the holder is entitled to receive a payment in cash, without interest, equal to the product of (i) the total number of shares subject to the canceled stock option and (ii) the excess, if any, of (A) the Per Share Merger Consideration over (B) the exercise price per share subject to the cancelled company stock option.
F3 Represents restricted stock units previously granted to the reporting person pursuant to the registrant's time-based restricted stock unit award program on May 1, 2021.